1 is a maybe; need to think about how monopsony power and general equilibrium effects interact 2 is unpersuasive; different labour market regs are different 3 is something i've already priced in 4 idk anything about macroeconomics but interestinghttps://www.econlib.org/archives/2013/03/the_vice_of_sel.html …
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Well, I'm quite confident about the direction of raising the minimum wage's effect on employment (negative), but since it's so hard to detect empirically I think it's pretty small.
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It's funny. Almost no person in the Netherlands talks about minimum wage with these economic arguments. Who cares if it is a net negative for employment? That's not the issue at all.
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i would simply question both empirical and theoretical economics findings equally
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the fundamentals of supply and demand is the best supported theory in all of the social sciences and you should believe it strongly even if you don't believe other parts of economic theory
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You know how there used to be more people who could afford maids than there were people who could afford cars, washing machines and so on? I live in a country that is just now going through that transition, and the min wage debates are hilarious.
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